DA NANG (VNS) — The central coast city of Da Nang will continue to perfect infrastructure facilities at its Hi-Tech Park to help attract more investment, especially from foreign groups.
According to the park's development plan for the next two years, top priority would be given to encouraging foreign investors from Japan, South Korea, the US, Taiwan and Singapore.
The plan was approved late last year by the municipal People's Committee and also aims to accelerate administrative reforms to better facilitate investors and support them in seeking financial resources to develop projects.
In addition to implementing measures for human resource training to better meet the demands of foreign investors for skilled employees, speeding up domestic and overseas investment promotion to timely provide enough updated information about the park would also a focus.
The Da Nang Hi-Tech Park, the third of its kind in the country after Hoa Lac and HCM City hi-tech parks, covers an area of 1,010ha in Hoa Vang District and was first established in October 2010.
Over half of the park is designated for facilities related to scientific and technological research and development as well as hi-tech human resource training.
Other prioritised industries include biological, new material and energy production, nano-technology and environmental and microelectronics technologies.
City authorities are offering preferential policies on land use tax, waste water treatment fees and corporate income tax to encourage investors.
Last year, the park's management board granted approval for Japanese firm Tokyo Keiki Co to develop a US$40 million factory producing electromagnetic switching valves and high-pressure pumps for export, making it the first project in the park.
Another Japanese firm, Niwa Foundry Company, has also committed to pump $21.87 million into a 2ha casting parts production project in the park.
The US-based semiconductor Qualcomm pledges to broaden its mobile ecosystem by offering cheaper smartphones, better networks and more local digital content for users.
The company has invested in foundation technologies that allow computer programmers to create quicker and better products.
More than 70 of local computer programmers of applications have taken part in the company's workshop on new technologies for the Vietnamese market.
The company has also connected Vietnamese programmers and international investors who want to work with network service providers' value-added units.
By 2016, 90 per cent of the country's population will be able to use 3G services as the infrastructure in Viet Nam is the best in Southeast Asia. — VNS